Half Year 2021 Rentokil Initial PLC Earnings Call - Q&A Session Transcript

Feb 11, 2024

Jul 29, 2021 / 09:00AM GMT
Operator

Good morning, everyone, and welcome to the Rentokil Initial 2021 Interim Results Q&A with Andy Ransom and Stuart Ingall-Tombs.

Questions and Answers:

Operator

(Operator Instructions) Our first question comes in from Simona Sarli of Bank of America.

Simona Sarli - BofA Securities, Research Division - Research Analyst

So I have a couple of them. So first of all, if you could please provide a little bit more color on your expectation of a profit before taxes and amortization in 2021, which is only GBP 10 million to GBP 15 million higher than market expectation. So I'm just trying to better understand because it sounds potentially conservative. So if I compare that to visible alpha consensus in H1, there was already a GBP 30 million bit, then of course, you have the support from seasonality in H2 and also stronger-than-expected M&A activity. So yes, if you could a little bit detail a little bit more this GBP 10 million to GBP 15 million increase.

And secondly, on wage inflation. So we have seen, especially

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